You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Thousands of shareholders sue RBS for $6 billion

LONDON — Royal Bank of Scotland shareholders have filed a $6 billion lawsuit against the company, claiming they were misled into thinking the bank was healthy just before its collapse.

A group representing 12,000 investors said Wednesday that the bank didn’t include vital information in the prospectus for a $18 billion share sale that took place just a few months before RBS was bailed out by the government.

Continue reading below

The bailout diluted the holdings of existing shareholders and the stock plunged, slashing the value of their holdings. The bank is now 82 percent owned by the British government.

The group said in a statement the lawsuit names former chief executive Fred Goodwin and three other directors, as well as the bank itself, as defendants.

RBS declined to comment.

Loading comments...

Wake up with today's top stories.

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
or
Please enter a valid email
BostonGlobe.com will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com